| id | Title | Status | Author | Description | Discussions to | Created |
|---|---|---|---|---|---|---|
| TIP-141 | Resume Buyback and Burn Program for Thales Token | Draft | Cvija (@scvija) | Resume Buyback and Burn | https://discord.gg/thales | 2023-04-26 |
Resume existing Thales governance token buyback and burn program
This TIP proposes to resume the paused buyback and burn program
The buyback and burn program has been paused for about two and a half months, as per TIP-124. This was decided mosty due to the token action at that time. Another point was that the upcoming Liquidity providing program from Overtime, where the users need to stake 10 Thales for each sUSD they want to deposit to the LP contract. The expected behavior was that there was going to be significant and constant buy pressure from the willing LPs. While this seemed true a short period of time, we can now see that the existing caps for LPs are not completely filled, and the impact was not that significant after all.
Right now, even with a significantly decreased safebox fee, we managed to accrue around 220k usd between Optimism and Arbitrum in safebox fees. With 1200$ baybacks per day, we could have a buyback runway of 100 days, with another 100k left in the safebox address, without counting any of the upcoming safebox fees.
Unpause Buyback and Burn contract, set variable sTickLength to "6h"
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